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30.1.2007 The President of the Republic of Belarus signed the Edict № 42 of January 28, 2008 «On Introducing Amendments and Additions to Some Decree of the President of the Republic of Belarus Relating to the Activity of Free Economic Zones». The edict contains several significant provisions aimed at further developing of the free economic zones, creation of favorable conditions for the attraction of national and foreign investments.   The Edict provides the following conditions: guarantees of legal regulations unchangeability for FEZ residents during the seven years period ; fixation after April 1, 2008 of a criteria of not less than 1mln. Euros declared investments volume for the implementation of an investment project; simplification of the procedure of FEZ residents registration; now the administrations of the free economic zones have the authority to take the decision about the registration of legal entities and individual entrepreneurs as FEZ residents; fixation of the decreasing ratio 0,02 to the basic rate of the annual rent payment for the land-plots, situated on the territory of the free economic zones and granted FEZ residents for the implementation of investment projects; state assistance in financing of construction and development of the necessary infrastructure in case of the implementation of large investment projects (more than 10 million. Euros) by FEZ residents ; simplification of the procedure of forming the list of import substitution goods produced by FEZ residents. The products of FEZ residents are guaranteed to be included in the course of three years to the annual list of import- substituting goods produced by FEZ residents and imported to the domestic market in case these goods are included in that list during the first year of their production; exclusion of the necessity to prepare by the Government the list of goods that can't be included into the range of free customs zone products and a number of productions the location in free customs zones of which is limited or banned; Exemption from the real estate tax for buildings located in FEZ (also unfinished construction buildings) and from taxes on vehicles; Exemption of FEZ residents from payments into the Innovation fund, formed by the Ministry of Architecture and Building.